AMF Tjanstepension AB Sells 18,250 Shares of PPG Industries, Inc. (NYSE:PPG)

AMF Tjanstepension AB decreased its stake in PPG Industries, Inc. (NYSE:PPG) by 16.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,211 shares of the specialty chemicals company’s stock after selling 18,250 shares during the period. AMF Tjanstepension AB’s holdings in PPG Industries were worth $11,383,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Banco Santander S.A. bought a new position in PPG Industries during the fourth quarter worth about $272,000. Ashton Thomas Private Wealth LLC grew its holdings in PPG Industries by 7.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,940 shares of the specialty chemicals company’s stock worth $2,860,000 after purchasing an additional 1,677 shares during the period. Welch & Forbes LLC grew its holdings in PPG Industries by 3.7% during the fourth quarter. Welch & Forbes LLC now owns 4,189 shares of the specialty chemicals company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Lindbrook Capital LLC grew its holdings in PPG Industries by 25.5% during the fourth quarter. Lindbrook Capital LLC now owns 852 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 173 shares during the period. Finally, Raymond James Financial Inc. bought a new position in PPG Industries during the fourth quarter worth about $82,071,000. Institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of research analyst reports. Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Royal Bank of Canada reduced their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Trading Up 0.1 %

Shares of PPG stock opened at $115.47 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market cap of $26.21 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The stock has a 50 day simple moving average of $116.82 and a 200 day simple moving average of $122.76. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.